Analysts Anticipate Speedway Motorsports, Inc. (TRK) to Post $0.69 Earnings Per Share

Shares of Speedway Motorsports, Inc. (NYSE:TRK) have received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Brokers have set a 12-month consensus price target of $16.00 for the company and are anticipating that the company will post $0.69 EPS for the current quarter, according to Zacks. Zacks has also assigned Speedway Motorsports an industry rank of 194 out of 256 based on the ratings given to its competitors.

A number of analysts recently weighed in on TRK shares. TheStreet raised shares of Speedway Motorsports from a “c+” rating to a “b” rating in a research note on Monday, February 4th. Zacks Investment Research lowered shares of Speedway Motorsports from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Finally, ValuEngine raised shares of Speedway Motorsports from a “sell” rating to a “hold” rating in a research note on Monday, February 4th.

Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. raised its holdings in Speedway Motorsports by 186.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,827 shares of the company’s stock worth $30,000 after purchasing an additional 1,190 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Speedway Motorsports by 285.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,638 shares of the company’s stock valued at $38,000 after acquiring an additional 1,954 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Speedway Motorsports during the fourth quarter valued at about $55,000. Bessemer Group Inc. increased its holdings in shares of Speedway Motorsports by 97.4% during the fourth quarter. Bessemer Group Inc. now owns 7,500 shares of the company’s stock valued at $122,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Speedway Motorsports by 30.8% during the first quarter. Carroll Financial Associates Inc. now owns 8,546 shares of the company’s stock valued at $123,000 after acquiring an additional 2,013 shares in the last quarter. Institutional investors and hedge funds own 22.94% of the company’s stock.

NYSE:TRK opened at $18.34 on Monday. Speedway Motorsports has a 1-year low of $13.47 and a 1-year high of $18.84. The stock has a market capitalization of $748.85 million, a P/E ratio of 18.34, a price-to-earnings-growth ratio of -9.66 and a beta of 1.05. The company has a quick ratio of 1.59, a current ratio of 1.58 and a debt-to-equity ratio of 0.21.

Speedway Motorsports (NYSE:TRK) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.29. Speedway Motorsports had a net margin of 10.63% and a return on equity of 5.62%. The company had revenue of $107.89 million during the quarter, compared to analyst estimates of $74.35 million. Analysts predict that Speedway Motorsports will post 0.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Tuesday, May 14th. Speedway Motorsports’s dividend payout ratio (DPR) is presently 60.00%.

Speedway Motorsports Company Profile

Speedway Motorsports, Inc, through its subsidiaries, promotes, markets, and sponsors motorsports activities in the United States. The company owns and operates eight racing facilities, including Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Kentucky Speedway, Las Vegas Motor Speedway, New Hampshire Motor Speedway, Sonoma Raceway, and Texas Motor Speedway racing facilities.

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